While communities across the country are beginning to recover from an unprecedented housing crisis, too many families are still struggling with their mortgage payments and are unsure of where to turn for help, said Treasury undersecretary for domestic finance Mary Miller in a statement. Millions of homeowners have gotten help to avoid foreclosure since 2009. We want to make sure struggling homeowners know today that there are free government resources available to help homeowners avoid foreclosure.

~~~~~​

The ad emphasizes an Obama administration housing initiative called the Making Home Affordable Program that allows homeowners a way to lower their monthly payments, avoid foreclosure or temporarily suspend their mortgage payments.​

Making home affordable is a free government program. Is that a huge, glaring red flag for anybody else? I realize that these are tough times and there are many people undergoing real material hardship, but remember what happened when decades of the federal governments meddling in the housing market came to a head, just a few years ago? I believe we call that little ol occurrence, the financial meltdown. The feds housing-policy apparatuses are already in dire straits, and as much as Obama just loves to talk about not going back to the same policies that got us here in the first place, he is remarkably committed to furthering the governments self-imposed role in providing politically-edged financial services that the private sector is much better at administering.

But that is not the whole story. Chapter 2 of the story is the affordable housing policies going back many years, spawned by liberals and progressives. ​

Yea, right - mortgage relief checks returned 'Insufficient funds'...Mortgage Relief Checks Go Out, Only to BounceApril 17, 2013, When the bank account is running dry and the mortgage payment is coming due, the phrase insufficient funds is the last thing you want to hear.

Now imagine hearing those two words when trying to cash a long-awaited check from the same bank that foreclosed on you. Many struggling homeowners got exactly that this week when they lined up to take their cut of a $3.6 billion settlement with the nations largest banks  lenders accused of wrongful evictions and other abuses. Ronnie Edward, whose home was sold in a foreclosure auction, waited three years for his $3,000 check. When it arrived on Tuesday, he raced to his local bank in Tennessee, only to learn that the funds were not available. Mr. Edward, 38, was taken aback. Is this for real? he asked.

A $300 relief check that bounced. The name and other information was redacted by The New York Times for privacy reasons.

It is unclear how many of the 1.4 million homeowners who were mailed the first round of payments covered under the foreclosure settlement have had problems with their checks. But housing advocates from California to New York and even regulators say that in recent days frustrated homeowners have bombarded them with complaints and questions. The mishap is just the latest setback to troubled homeowners. It took more than two years to resolve a federal investigation into the foreclosure abuses. Even after the settlement in January, the checks were delayed for weeks. Its the perfect ending for such a debacle, said Michael Redman, a paralegal who runs 4closurefraud.org, a Web site for victims of foreclosure abuse. He said he had received 15 e-mails on Tuesday from homeowners whose checks bounced.

The first round of the settlement checks was mailed last week. In recent days, problems arose at Rust Consulting, a firm chosen to distribute the checks, people briefed on the matter said. After collecting the $3.6 billion from the banks, these people said, Rust failed to move the money into a central account at Huntington National Bank in Ohio, the bank that issued the checks to homeowners. Many banks, after spotting a phone number for Huntington on the back of the checks and confirming the legitimacy of the money, agreed to process the payments. But some credit unions, check cashers and community banks apparently looked only at the account number on the unfamiliar-looking checks and ultimately found a zero balance, the people briefed on the matter said.

Rust says it does not know how many homeowners encountered the check mishap, adding only that it was aware of 12 situations. Still, banking regulators, frustrated with missteps at Rust, urged the consulting firm to shore up the account Tuesday. Now, regulators say the problems are resolved, and are urging homeowners to try again. Officials worry that homeowners, weary from a process that has stretched on for years, will give up. In a statement, the Federal Reserve assured the public that Rust subsequently corrected problems, adding that the Fed would continue to monitor the payments closely. Rust, an oft-used middleman for class action lawsuits and government settlements, has faced similar concerns previously. In 2006, when it helped distribute payments from a class-action case involving title insurance costs, some consumers complained that the checks bounced.

Yea, right - mortgage relief checks returned 'Insufficient funds'...Mortgage Relief Checks Go Out, Only to BounceApril 17, 2013, When the bank account is running dry and the mortgage payment is coming due, the phrase insufficient funds is the last thing you want to hear.

Click to expand...

And then their Bank charged them a Returned Check Fee right? You can't make that sh*t up!

The Obama admin wants you to know theyre here to help with mortgage payments​

December 12, 2012
by Erika Johnsen

The Obama administration is launching a brand-new public service announcement to tout Treasury and Housing & Urban Developments joint initiative to help progress the Obama Administrations broad strategy to help homeowners avoid foreclosure, stabilize the countrys housing market, and improve the nations economy. Via Politico:

While communities across the country are beginning to recover from an unprecedented housing crisis, too many families are still struggling with their mortgage payments and are unsure of where to turn for help, said Treasury undersecretary for domestic finance Mary Miller in a statement. Millions of homeowners have gotten help to avoid foreclosure since 2009. We want to make sure struggling homeowners know today that there are free government resources available to help homeowners avoid foreclosure.

~~~~~​

The ad emphasizes an Obama administration housing initiative called the Making Home Affordable Program that allows homeowners a way to lower their monthly payments, avoid foreclosure or temporarily suspend their mortgage payments.​

Making home affordable is a free government program. Is that a huge, glaring red flag for anybody else? I realize that these are tough times and there are many people undergoing real material hardship, but remember what happened when decades of the federal governments meddling in the housing market came to a head, just a few years ago? I believe we call that little ol occurrence, the financial meltdown. The feds housing-policy apparatuses are already in dire straits, and as much as Obama just loves to talk about not going back to the same policies that got us here in the first place, he is remarkably committed to furthering the governments self-imposed role in providing politically-edged financial services that the private sector is much better at administering.

But that is not the whole story. Chapter 2 of the story is the affordable housing policies going back many years, spawned by liberals and progressives. ​

We don't need to make homes more affordable, we need educate home owners to make more affordable decisions. People need to educate themselves on the "types" of loans that are out there, live within their means, don't buy a bigger home than you can afford, and if times get tough you may just have to downsize into what you CAN afford (even if that means going into an apartment). The Federal Government simply can not look to bail-out every homeowner that happens to find themselves facing foreclosure. To do so creates a government that [cradles] its home owners into become the enabler of possible bad habits, and refuses to give home owners the right to take on some much needed "personal responsibility". Home ownership, after all, is a "choice" to make a personal investment for your life NOT to be seen as an entitlement.

If the Federal Government desires to help, then government needs to create an encouraging environment that allows businesses the freedom to expand, invest in themselves, to create jobs in the private sector.

I hope it's not the California plan. The plan was for the state to seize the homes of anyone who was underwater whether or not the mortgage payments were current, and rent them back to the former homeowner until such time as real estate values rose. Then the hone would be put on the market and sold. The former owner could buy it back, but got no special consideration. The former owner was just another buyer. And, of course lost every cent he put in the home and didn't get any equity.

My son remodeled his kitchen and put in a paved patio to bump up the value of his house so he wouldn't lose it under this plan.

The Obama admin wants you to know theyre here to help with mortgage payments​

December 12, 2012
by Erika Johnsen

The Obama administration is launching a brand-new public service announcement to tout Treasury and Housing & Urban Developments joint initiative to help progress the Obama Administrations broad strategy to help homeowners avoid foreclosure, stabilize the countrys housing market, and improve the nations economy. Via Politico:

While communities across the country are beginning to recover from an unprecedented housing crisis, too many families are still struggling with their mortgage payments and are unsure of where to turn for help, said Treasury undersecretary for domestic finance Mary Miller in a statement. Millions of homeowners have gotten help to avoid foreclosure since 2009. We want to make sure struggling homeowners know today that there are free government resources available to help homeowners avoid foreclosure.

~~~~~​

The ad emphasizes an Obama administration housing initiative called the Making Home Affordable Program that allows homeowners a way to lower their monthly payments, avoid foreclosure or temporarily suspend their mortgage payments.​

Making home affordable is a free government program. Is that a huge, glaring red flag for anybody else? I realize that these are tough times and there are many people undergoing real material hardship, but remember what happened when decades of the federal governments meddling in the housing market came to a head, just a few years ago? I believe we call that little ol occurrence, the financial meltdown. The feds housing-policy apparatuses are already in dire straits, and as much as Obama just loves to talk about not going back to the same policies that got us here in the first place, he is remarkably committed to furthering the governments self-imposed role in providing politically-edged financial services that the private sector is much better at administering.

But that is not the whole story. Chapter 2 of the story is the affordable housing policies going back many years, spawned by liberals and progressives. ​

We don't need to make homes more affordable, we need educate home owners to make more affordable decisions. People need to educate themselves on the "types" of loans that are out there, live within their means, don't buy a bigger home than you can afford, and if times get tough you may just have to downsize into what you CAN afford (even if that means going into an apartment). The Federal Government simply can not look to bail-out every homeowner that happens to find themselves facing foreclosure. To do so creates a government that [cradles] its home owners into become the enabler of possible bad habits, and refuses to give home owners the right to take on some much needed "personal responsibility". Home ownership, after all, is a "choice" to make a personal investment for your life NOT to be seen as an entitlement.

If the Federal Government desires to help, then government needs to create an encouraging environment that allows businesses the freedom to expand, invest in themselves, to create jobs in the private sector.

Click to expand...

Failure is the best teacher. Hunger the greatest motivator. Businesses and individuals alike are best left the fuck alone.

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